According to the World Bank Group, public debt in Nigeria and other low and middle-income countries has reached a 50-year high, amounting to more than 200 percent of government revenues. The Washington-based bank stated this  in a new report titled “Raising the Bar on Debt Transparency” that with the pandemic-induced economic slowdown, the impact of the war in Ukraine, and the rise in interest rates, many countries were facing severe challenges in servicing their debts. The report read, “Total public debt stands at an alarming 50-year high in low- and middle-income economies, the equivalent of more than 200 percent of government revenues.” According to the World Bank’s recent International Debt Statistics 2022 report, as a result of COVID-19, the external debt burden of the … Continue reading Nigeria’s Public Debt Worst Ever In 50 years – World Bank